Bitcoin traders are heading into Friday with $75,000 in focus, as the flagship cryptocurrency continues to struggle to break decisively above the $70,000 level. The new levels are in focus as about $14.16 billion worth of Bitcoin options are due to expire on Deribit on March 28. This is one of the largest expiry events the crypto market has faced in recent months. With the market is sitting roughly $4,700 below the so-called max pain level, the investors are asking if the price drifts toward that strike or does the expiry come and go without any meaningful pull. The reason the level matters is that large options expiries can influence short-term positioning, hedging flows and volatility expectations.
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